The lesson summarizes the content of the March 7, 2008, U.S. Department of Labor, Bureau of Labor Statistics, announcement of the unemployment rate and employment data for the month of February 2008. The meaning and importance of the data are discussed. Students consider the implications of the data for the economy and themselves. Exercises are included for reinforcing knowledge of the concepts.
Real Gross Domestic Product (GDP) during the second quarter (April through June) of 2003 increased at an annual rate of 3.1 percent. This is the second release of the data for the second quarter and is an increase that is higher than the previously announced 2.4 percent. The rate of growth in the second quarter compares to annual rates of 4.0, 1.4, and 1.4 percent in each of the previous three quarters. For the entire 2002 year, real GDP increased at a rate of 2.4 percent. During 2001, real GDP increased by .3 percent - a year in which real GDP fell during the first three quarters. Annual growth rates in 1999 and 2000 were 4.1 percent and 3.8 percent. This announcement received a great deal of attention in the press because it represented a higher than expected increase in real GDP. The increase was largely due to increased consumption, investment, and national defense spending. However, productivity of workers is still increasing faster than output and that means that it is unlikely for unemployment to fall soon.
Explore the connection between the economic indicators and real-world issues. These lessons typically can be done in one class period.
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Teaching Financial Crises is an eight lesson resource that provides an organizing framework in which to contextualize all of the media attention that has been paid to the recent financial crisis, as well as put it in a historical context. The current events stories, opinion pieces, and other popular media pieces that are today in great supply have generally not connected to educational objectives, historical analysis, and economic processes and concepts that are used in the high school classroom. In Teaching Financial Crises, teachers will find a non-partisan and non-ideological resource to help them simplify and offer balanced perspectives on this challenging subject matter.
5 out of 9 lessons from this publication relate to this EconEdLink lesson.
This revised edition features simulations, role plays, small-group discussions and other active-learning instructional activities to help students explore economic concepts through real-life applications.
3 out of 21 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
3 out of 40 lessons from this publication relate to this EconEdLink lesson.